Lanzatech Borrows $15 Million to Turn Waste Gases Into Fuel

Lanzatech NZ Ltd., an Aukland-based biotechnology company, received a $15 million loan to develop transportation fuels and chemicals from waste industrial gases.

Western Technology Investment, a Portola Valley, California-based venture capital company, provided the financing, closely held Lanzatech said today in a statement.

The loan follows the $55.8 million Series C financing round Lanzatech closed in January, led by the Malaysian Life Sciences Capital Fund LP, and brings the company’s total funding to more than $100 million, according to the statement.

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